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X-398 t Rele-aed lor- publication Sunday morning Saptec.ber 23, 1917. Hot e..i\Ur. STATEMENT FOB THE PRESS. September 22, 1917. v i tf » ► • ^ . t * Continued concentr-tion of gold reaerve^, „j the reault of the iaauunce of Feder-1 Reserve notea ..gainst gold -nd of addition-1 reserve dep-sita, -lac conaider-ble g-in^ in bill:; cn h-nd, largely member banka1 coll-tar-l notoa, are indicated by the Federal Reserve Beard'a weekly b..nk 'jtiteaent iaaued ..a *t close of buaineaa-on September 21, 1917. During the week ,nother iaaue of 300 million^ of U. 3. certific-tea of indebtedneaa w-a nude, which w-a covered by aubacribing banka only to a amall ex-; tent by c..ah payment a. On the other hand diaburaementa of the Government, ?. .r.aly adv-nce^ to the Allied Governments, culled for the payment during the week ox 101,5 milliona by the Hew York Bank on fiac-1 agent -ccount. To provide the^e funda tr-nsfera from other Federal Reaerve b-nka thruugh the Gold Settlement Fund and v?itfcidr-w-la of Government funda fron loc-l Liberty L;„n depositaries bec-me necesaafy. Wo appreciable change io ahown in the r-tio of lawful money reaerve tv net depoaita, while the pledging during the week with the Agents of an addi tional 9 milliona of paper againat Federal Reserve notea reduced the note reaerve percent-ge froir. 82.2 to 81.4 per cent. Total gold reaerve<3 ahow - gain for the week of 27.4 milliona. Liquidation on large ac-le of billa and the a-*le of United States certificates of indebtedneaa, alao u considerable net gain in aggregate depoaita are mainly reaponaible for a g-in of 34.1 milliona in the New York B-nk'a gold reaerve. The Chicago report indic-tea - decre-ae of the B-nk'a gold reaerve by 17,1 millions, following l-.rge diocounta of member banka' collateral notea -nd investments in Liberty Bonds. G-ins in reaerve reported by the Boston,, Minne-polia, Dallaa and SLn Francisco b-nka -re due mainly to additional reaerve depoaita received during the week, while decre-ae3 in reaerve ahown for Cleveland, St. LoUia -nd Kanaaa City .-.re caused by additional inveatmenta, and,in the caae of the letter two banka by net reductions in depoaita, m-inly on Government account. Discounted p-per or, h-nd shows an incre-ac for the week of 16.4 milliona, Chicago, St, Louis and Kans-y City reporting the 1-rgest gaina under thia he„d. Of the totv~l diacounta held, 70,2 milliona, -a against 5S.2 milliona the week before-. repreaented by coll-ter-1 notea. Of the 1-tter, -b~ut 22.2 milliona mre oocured by Liberty Lo-n aecuritiea. Both the New York -nd Chicago b-nka report conaiderable net liquidation of -ocept-nces, with the reault thu/t the tot-1 on h-nd aho,-/a - f-ll.~ ing off for the week of 7.4 milliona. Chic-go alao reporta - conaiderable inveatment in Liberty Bond a, the tct-1 bond holding a of the b-nka ah ofiring an incre-ae for the week of 8.6 milliona. New York disposed of 7,5 million^ of United St-tea certifiC-tea of indebtedness, while -11 other Feder-l Reaerve b-nka report incro-aed holdinga of certificatea pending delivery to ultim-te inveatora. Total e-rning as^eta incre-sed during the week by -bout 16.2 milliona -nd c^natitute at preaent 741 per cent of the b-nka' paid-in c-pit-1, corr.p-red with 714 per cent the week before. Of the tot„l, diac-unta constitute 41,6 per cent; -cceptancea 36,6 per cent and U. S. aecuritiea 21,6 per cent. ^ 300 million.; of An iaaue on September 17 of/U. S. certific-tea of indebteineas w-s p-id for m-inly by credita on the b~oka of aubacribing b-nka, the Government withdr-w-la . during the week being -g-inat credits on account of former ia^uea. The net reault of theae oper-tiona «lao of tr-nsfer- to the New York B-nk on Government account ia -n incre-ae of 3.4 millioni in the tot-1 of Government depoaita held by -11 Reserve b-nka. Aggregate Reserve deposits increased about 12.4 milliona. Clearing account, for non-membera are reported by 6 Reaerve b-nka, the total of 50,8 milliona ahowinc but little ch-nge for the week. Aggregate liabilitiea on Federal Reaerve b-nk noto^ in circulation, all of the Kattaao City bank, -re given as 8 millions, ► Feder-1 Reaerve Agent a report & total of $725,397,000 A nctet. outstanding, -n incre-ae for the week of -bout 25 million:-. . Additional note .iaaueo -re reported for -11 diatrictj. Ag-injt the notoj iajued the Agsnta hold $536,009,000 of gold -nd $198,867,000 of p-per. Ihe banks give their outgt-nding Federal note circulation aa ^670,246,OCC, -n incre-aa cf $25,679,000 for the week. A «• ♦ . <» ■ V v v * '/ -w — , x ; Released for publication Sunday morning September 23, I 9 I 7 . Eot earlier >*3S8a STATE:»E 'T OF COMBINED RESOURCES ATTD LIABILITIES OF THE TWELVE FEDERAL RESERVE BASICS AT CI0SE OF BUS IV ESS SEPTE1-' BER 21, 1917 R E S O U R C E S September 21, 1917 September 14, 1917 Septcrfit-er Gold coin :.ad certificates in vault......... . .................... $430,979,000 $408,206,000 $ £ ,7 1 1 , 0 0 0 Gold s&ttlament f u n d ..................................... ............. . 373, 387,000 384.646 .000 217 . 751.000 Gold wit-! foreign agencies ......... -............................ 52.500.000 52,50.3,000 Tot a rold'held by banks........................................... 856,866,000 845 . 352.000 3 7 ^ 502,000 Gold with Federal Reserve Agents........................... ....... .. 536,009,000 520. 470.000 193.110.000 Cold relent ion fund ...................................................... 9. 442,000 1.941.000 Total gold reserves ............................... ............ ....... 1,402,317,000 37 *+,949,000 571.553.000 tonier notes, silver, etc. ............. .................... . 49-9.34-000 51,085,000 7.642.000 9 ToteJ reserves ................................................ ......... 1 , 452, 251,000 426, 034 , 000 579 . 195.000 Bills discounted - Liftjcers ......... * ................................ . 183 , 758,000 167.333.000 . Eills bought in open market ................................ ........... 161.012 .000 ' 81.684.000 168.445.000 Total bills on hand ......... -................................... 3 UU, 770 000 335, 778,000 . U. S. Government long-term securities ............................ 53,929,000 45. 358.000 4-7,553/000 U. S'. Government short-torm securities ................ 41,070,000 42. 366.000 . Municipal warrants -...................................................... . 214.000 214.000 24.137.000 Total earning assets ........... ................... . 4-39,983,000 423, 716,000 , Due from other F. R. Banks - Set ........... ........................ 1,337,000 6, 554,000 29.266.000 Uncollected i t ^ m s ................. .............................................. 237.704.000 224.622.000 239,041,000 Total deductions from grcsc. deposits . • • * ............. 231 , 176 , 000 ' , c^ , Owu 556 redemption fund against F. R. ban'- notis ................ 500,000 500,000 , oG All other resources .................................................... 404*000 5 . 451.000 TOTAL RESOURCES 2 132 , 179*000 2,081,734,000 808, 731,000 L I A B I L I T I E S Capital paid i n ........... ...............................................* -59,354,000 59 , 368,000 55 . 423.000 vernat-nt deposits ............................................ ............... 25 , 030,000 21. 602.000 39,9^7,000 1 , 139 , 291,000 — ,. l^ 151 ^ 704,000 e to members - reserve account -................. .. 50 . 621.000 Due to non-member b a n k s C l e a r in g account .................. 50 ,779,000 518.456.000 Mcf.ii'bor bank deposits - Net .................... .......................... ... 156.268.000 Collection items . ............................................................ 164, 449 .000 1 . 367 . 782.000 558 . 403.000 Total gross deposits ................................................. 1,391,962,000 644,567,000 191 . 635.000 F. R. "otes in actual circulation............. .................... 670,246,000 7 . 561.000 2, SI1*,-00 F. R. EanJr notes in circulation, net liability . . . . . . . 8,003,000 2 . 456.000 356.000 All other liabilities including foreirn Govt* credits 2 6l 7 ■"'00 2.081.734.000 808, 731,000 TOTAL LIABILITIES " 2 , l ?s i 170 ’ 00O 74.3^ 71.25S Gold reserve against net deposit liabilities . . . — . . . * 78.8$ 72 . 6$ Gold and lawful money reserve against net deposit liabil's jS.fk* 82.2JS 1 0 1 .$ Gold reserve against F. R. notes in actual circulation 81.1$ 25 27 706.000 111 550.000 8 039.000 191 319,000 29 66 500 0 — — f ♦ http://fraser.stlouisfed.org/ * Federal Reserve Bank of St. Louis 1916 Released for publication Sunday mo rain- September 23, 1917* ’'ot earlier. X_j98b WEEKLi STATE-‘.ErT OF RESOURCES AID LIABILITIES OF EACH OF THE FEDERAL RESERVE BA-'KS AT CLOSE OF BUSINESS SEPTEMBER 21, I 917 .• Boston RESOURCES ,v-/4rb Gold coin and certificates in vault Crold Sottr u.vent fund 15,180 <i l l wit' foroi^n agencies 3,675 Total ^cld hold by banks 42,9 Jw Geld with Federal Reserve Agents joGold redemption fund 500 A t : l aold reserves 67 j 6*21 tender notes, silver, etc. _ 3,813 -Total r^sorves 71,434 Bills discounted - Members 15,599 Bills bought in open market X& jC Total bills on hand J D , 4 \JiLi U.S.Government longterm securities 610 U.S-Govcrnaent short-to nn securities 2,686 Muriicir>_l wart. :;ts • * • Toi:JL oarnin.. assets 38,698 Duo • -C, oa otht>r F. R. ~aras - Net 6,403 Uncollected items 15.238 Total deductions from ^ross depositssi ]_ 5^ Redemption Fund a^1st F»R*Plc*not6s All other resources • • TOTAL RESOURCES 131.773 I I, B I L I T I E S C o i t a l p<?dd in 5,463 Government deposits 2,999 Due to membors - reserve account 74,805 Due to non-'nember b fks - clearin': a.cct Collection items 13,571 Duu i ■ ct!'vf F, F. Banks - Net * • « Total jross deposits 91,375 F.R.Notes in actual circulation 34,498 F*R.Bk#Totes in circulation, net lia • ♦ % % All other lia b ilities includ.in i3rei~n Gov,, a.-. ^ t credits 437 TOTAL L L -ILiriE^ 131,77 3 (-) i>i« terence bet.ve; net —* • 1 1 , Un Co 64 (in thousands of Phila Cleve1- Ric’ra 17,764 27,558 6,249 30,276 38,454 22,178 3.675 4 .7 2 5 1.837 51,735 70,737 30,264 32,001 35,324 14,516 950 53 808 84,686 106,114 45,588 1.202 313 150 85,888 106,427 45,738 l o , .18 10,434 16,647 1 -, ^; .,2,89 b 3,297 3_ , J J .329 1 9 ,9 4 . 877 7,945 1,152 3,231 3,383 2,364 126 32 94,564 34,286 44,689 23,460 r * * 2,500 4 ,8 6 7 58.525 30.743 15.4 18 14.137 58,525 33,243 20,285 14,137 w. Y. .j4y, 128,150 18.112 395,904 216,932 4,001 i l 6 ,637 39 .638 g 5 & ,4 7 j ij7, Is. 6 5^., 5-9 O0j OO 2,861 6,048 4 809.564 153.417 171.401 83.335 12,220 5,268 2,278 1,691 442,087 70,532 43,924 * . » 36, -.^5 ^6,397 6 2 .323 546,657100,620 249,067 47,259 * ft 6 ,4 6 0 3,475 2,788 1,662 99,769 37,130 1, 620 270 ♦ » 13,886 11,773 1.728 116,443 52,263 48,391 27,516 107 dollars) Atlanta C1 ica;;o 1 . Lo \>i& 6,246 44,5 80 3,194 1 ,038 51,602 19,850 7.350 2.100 1 .575 8,859 103,532 25,144 81,533 17,286 28,332 270 575 339 37,530 185,335 43,005 2,150 1.213 457 37,987 187,485 44,218 30,985 15, &c>l 7,548 12,485 4,715 1 ,731 4 3 ,4 7 . 19,936 9,279 2j 236 887 20,172 5,417 5,784 1,793 10 69,059 23,965 15,9 60 1,460 3,623 1,211 11.292 31,506 13,069 14,915 32,717 14,529 0 '<&s . Cy. 8,051 32,976 2,625 43,652 20,796 518 64,966 37 65,003 16,894 5,852 22,746 8,849 2,210 18, 035 1, 487 8, 689 , 176 33,805 1 ,4 3 0 13,336 14,766 400 * 10 » • 166 69 . 028 289 . 261 82.712 19 76, 945 113,974 2, 502 1,721 26,557 120 7,695 8,005 7,602 158,597 4,843 19,388 3,269 (b)231 43,8 10 16 10,675 2, 559 O ^ > 397 38, 522 1 3, 550 3,367 (l>) 20 67,056 3o,093 30,433 190,430 90,789 54,270 25,152 44, 470 29, 916 76,158 26,405 8 , ^wO 37 *1 44 289,^61 82,712 76,945 113,974 81 809 ^ 564153;417 171,401 83,335 wi i TOIL vliCi ne C wwILwUii'Go uUS ,:i"iris. 16, 896 7, 461 2, 100 26, 457 21, 117 803 48, 377 338 48, 715 10,919 3, 218 14, 137 1, 859 2, 039 69,028 >r F. % » - 9,122 Dallas S - F ran. Total 12,412 14,322 430,979 373,387 6 ,4 1 0 19,812 52,500 2,888 1,838 85 6 dO ,660 37,02-: 536,009 23,591 20,360 9,442 15 610 41,6 30 60,628 1 ,4 0 2,31 7 49,934 530 93 1 ,4 5 2 ,2 5 1 4 2 ,1 60 60,721 183,758 9,614 8,133 161.012 9 ,0 1 8 4,055 344,770 18,632 12,18b 53,929 2,512 3,969 41,070 2,327 3,788 214 46 • • . 439,-983 1 8 ,5 30 24,932 O 1,337 2,986 * <• * 237,704 13,864 11,887 239,041 11,887 16,850 500 i:." 404 99 120 72,797 102.602 2.132.179 ,£00 2,779 2,001 31,745 * • * 3,777 579 38,102 31,916 59,354 3,987 25,030 142 61,124 1,151,7-4 50,779 1 ,8 7 5 6 ,5 7 0 164,449 69,711 1,391,962 670,246 28,904 8, OuO 2,617 72,797 102,602 2,132,179 (b) overdraft. .i lor ^ublicatic Bal.i .iiornin ; Septu.:.bcr Z'j, 191 J' ot earlier STAi£l:EHT OF FEDERAL RESERVE AGENTS' ACCOIT TS AT CLOSE OF PUS I'ESS cE^TE.^PER 21, X308 c 191f. (In thousands of dollars) Federal Reserve r~otes: Received from Comptroller Returned to Comptroller Chajr^eable to F* R* Aaent In bands of F. R. Arrant Issued to F* R* Bank less a|ount rv turned to F. R. t for redemption Collateral hold as security for outstandxn ;. notos: Gold coii'i a^.d c:rtific t~s on hand Gold redemption fuud With Federal Reserve Board Cohere lal pap^r, minimum required TOTAL Amount of commercial paper de livered to 1\ R. A;ent Boston *69 -680 ii* m . 56,101 16 , Uoo w. Y. 'i-5?.iO 98.008 39 U,952 Phil?.. 7^,502 il,5L!i. 60,901 122,020 11,000 39j o 1 . 272,932 20,2 jO 205, 18U 11,745 15 , use 56 , 0:0 39 ,m _ 2 7 2 ,9 jc 15 , 1+85 57,252 Richm. At 1ant?. Chicago Ft- Louis Mi v>:i1s . ’"c.3 Cy. Dallas 1+3,880 U8,180 128,780 36,900 1+1+, 6U0 U7,7 20 51 , 200 13.273 _ 8.206 U^O.38 7, 797 6,957 9,503 10.787 30,60 7 39,9 7'4 12 U, jkz 29,943 36 , C’43 38,217 UO,U13 8,580 8,165 I i 120.._,_7JJ30..._29J500. 2,670 U.930 .-01 51.324 U, 220 12,536 2,602 2,788 ... i,oib 25.179 2 0,CCD 13,500 U" 1 ,5 :1 2, J JvJ Clevel. /I 000 -J^ 236_ 63, 76U 12 , uuo 11,903 16,012 17,905 • 38,260 1, 1U5,700 U.765 33,435 195,7U8 9l4S,S52 22U,555 ________ (i4^ hC7 , Total 2^u u „ --M^jake. 2jL2/3 _ .31 j n ± -2S..«1 L_ 32, 2Ub .3 3 ^95 . 3 , U59 i ,\ ,* 23,350 19, 91*1+ 2,953 r 73 LJ>J) 217 -1,515 13,102 9U, 3-. , U, 32 U E i M O R A ^ D 2,370 1 , lob !7 ,C»c ?7^,53U 2b ,601 2 29,6f4 JJ iv'T i s, «c 5 33^9- . 72r>,Kf 10 , 1 U5 12,063 10,137 198,887 29,916 29,637 3,232 26, U05 32 , LUc 33,^95 4,591 332 31,916 28, 90U CVvT 90 days 6,500 <• . J i L a 'j . ^ L O i l _ / a # 3 7 MEmSBETFBEXepyB 13 , 51+1 9,993 14, '<c0 1,63' m .3 u i 1,325 £C~j c_v _> 1, ^ IS _■ .L.310 ..... .1U,.97.1. -^ 0 1 s.Fran. 12,086 ! J.. : £8 A Fe de ral Re serve Notec cmtct-.ndinz and in actual *irculation. - F,R, notes outstanding 39 ,701 F.R* notes held by banks 5,203 F.R. notes in actual circulation 3 U,U9 G 272,932 23,665 21+9,067 Within Bills di&: o '-it and oou ht Municipal warrants M 1 >+9,901 2, 6U2 ^7,259 51, 32U 2,933 1+8,391 29, Us 7 32, 6UU 9U,6'42 1,971 2,211 U,053 27,516 30,U33 90, 709 27,273 2,121 25,152 Distribution of Bills and Warrants br Matuiritiec 16 to• 30 da: c 31 to 60 day s 6l to 90 dc.70 15 day S I 38 , 6U<C 126 63 , 33 s • « t 9 0 , JC1 20 50, U5 7 5 31,913 1,997 i ,5U6 53 Total 3'4'4,770 20U 725,397 55,151 670, 2UC
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